Fannie Mae last week replaced its MyCommunityMortgage affordable lending program with a new product called HomeReady that allows borrowers to get housing counseling online and integrated with Fannie’s Desktop Underwriter system. Both programs are targeted to lower- and middle-income borrowers in select communities. Barry Zigas, president of Zigas and Associates, a consulting firm focused on housing, said HomeReady is a “game changing announcement” in his blog post this week, especially pointing to the product’s adoption of a standardized consumer education requirement and the incorporation of the product into Fannie’s Desktop Underwriter. Zigas formerly headed Fannie’s affordable housing unit. Its new functionality through DU will allow...

NYCB Mortgage and George Mason Mortgage are once again top contributors to the REIT's jumbo deals...

Glass told IMFnews that he has seen a noticeable uptick in searches for what he calls “senior leadership” positions...

Ginnie’s big advantage is that it gets all the FHA and VA loans, while the GSEs so far have not gotten much traction in their reduced-downpayment programs.

According to figures compiled by Inside FHA/VA Lending, Wells ranked second among all FHA retail originators in the first half.

The CHLA noted that almost 99 percent of depositories are exempt from exams conducted by the Consumer Financial Protection Bureau.

Meanwhile, 37.0 percent of realtors indicated they have put together plans with their lender or title company to help even out the process...

Moreover, one warehouse executive told IMFnews that he is beginning to get requests for increased capacity.

M&T sought a dismissal of the lawsuit in April, claiming that its loan officers were acting based on legitimate, non-discriminatory reasons.

When the Stearns announcement was made some of its competitors began speculating on what might happen to the acquisitions down the road.